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PricingService areasAll services →Accounting and Tax for Ontario Trucking Companies and Owner-Operators
IFTA-ready records, fuel receipts, per diem meal claims and equipment write-offs handled by a CPA-led team that knows the road from the office side.
24/7 receptionist, a real person answers.
- Every return is reviewed by a CPA
- No surprise bills
- Reply within one business day
- 24/7 receptionist: a real person answers
- QuickBooks Online, Xero and Dext
- Rated 5.0 stars from 29 Google reviews (read our reviews)
T-Ledgers is a CPA-led accounting firm working with Ontario owner-operators, small fleets and logistics businesses, many of them based in the Mississauga, Brampton and Peel trucking corridor. Wajahat Ajmal, CPA, FCCA, has been practising since 2020. We handle bookkeeping, HST, payroll and corporate and personal tax, and every return is reviewed by a CPA.
Trucking runs on paper: fuel slips, settlement statements, logbooks, lease agreements and cross-border receipts. We turn that pile into clean books and returns you can stand behind, and show you your real cost per kilometre.
Trucking tax and bookkeeping issues we handle
Rules, rates and thresholds change. We confirm the current figure for your situation on the call before relying on it.
IFTA fuel tax reporting
If you run qualified motor vehicles (generally two axles and over 11,797 kg (26,000 lb), or three or more axles) in more than one IFTA jurisdiction, you need an IFTA licence and quarterly returns. In Ontario, IFTA is administered by the Ministry of Finance, and returns are due the last day of the month after each quarter. Clean mileage-by-jurisdiction and fuel records make the return accurate. We keep those records in your books so the figures are easy to pull; we don’t file IFTA returns ourselves.
Per diem meal claims for long-haul drivers
Eligible long-haul truck drivers can deduct 80% of meal costs instead of the usual 50%. To qualify, you generally have to be away at least 24 continuous hours from the municipality or metropolitan area where you’re based, driving a long-haul truck (gross vehicle weight rating over 11,788 kg) that transports goods to or from a location beyond a 160 km radius. You can use receipts or the CRA simplified flat rate per meal (up to three meals a day); see CRA’s current meal rates. Employed drivers claim through Form TL2. A trip log with dates, departure and return times and destinations is what holds the claim up.
Fuel tax and HST on fuel
Fuel is usually your biggest cost. We make sure HST input tax credits are claimed on every eligible fill-up and that fuel tax reported on IFTA matches your books. The federal consumer fuel charge was set to zero as of April 1, 2025, which matters for comparing year-over-year costs. Fuel cards make this easier; we reconcile them monthly.
CCA on tractors and trailers
Trucks and tractors built for hauling freight with a gross vehicle weight over 11,788 kg generally go in Class 16 (40%), while trailers are usually Class 10 (30%). The reinstated Accelerated Investment Incentive (enacted March 2026) generally gives an enhanced first-year claim for eligible property available for use before 2030. We keep a register for every unit, including trade-ins and disposals, so recapture doesn’t surprise you.
← Swipe to compare →
| Asset | Usual CCA class | Rate |
|---|---|---|
| Highway tractors and freight trucks over 11,788 kg GVW | Class 16 | 40% |
| Trailers | Class 10 | 30% |
| Pickups and service vehicles | Class 10 | 30% |
| ELDs, dash cams and computers | Class 50 or 8, depending on the item | 55% / 20% |
Law: Income Tax Act s.20(1)(a) (capital cost allowance); Income Tax Regulations s.1100(1) and Schedule II (CCA classes); Income Tax Act s.13(1) (recapture).
Owner-operator, contractor or employee?
Many drivers lease onto a carrier as owner-operators. The contract, who owns the truck and who carries the risk all affect whether you’re self-employed or an employee for tax. Incorporated drivers working for a single carrier may face personal services business rules, and the CRA and federal government have been cracking down on misclassified drivers (often called “Driver Inc.”). We review your lease and settlement terms and set you up correctly.
Law: Income Tax Act s.125(7) (“personal services business”, “CCPC”); Income Tax Act s.123.5 (5% PSB tax); Income Tax Act s.18(1)(p) (PSB expense limits).
HST on cross-border and interprovincial freight
Some freight transportation services that are part of a continuous international journey can be zero-rated. Domestic freight is generally taxed based on the place of supply rules, which can mean a different HST or GST rate than Ontario’s. We set up your invoices and tax codes so you charge HST only where you should.
Law: Excise Tax Act Schedule VI, Part VII, ss.6 and 8 to 11 (freight transportation); Excise Tax Act Schedule IX (supply in a province).
Settlement statements and carrier deductions
Carriers deduct fuel advances, insurance, plate fees, escrow and chargebacks from settlements. We record the gross revenue and each deduction separately, so expenses and HST credits aren’t lost and your escrow balance is tracked.
Cost per kilometre and lane profitability
Fuel, maintenance, tires, insurance, plates, permits, financing and driver pay divided by kilometres driven tells you which loads to take. Our Virtual CFO service builds that report from your books.
Payroll for company drivers
Company drivers are employees, with CPP, EI and income tax withheld and T4s issued. Drivers paid by the mile or by the load still need correct source deductions. Eligible employed long-haul drivers need a signed TL2 to claim meals.
Law: Income Tax Act s.153(1) (source deductions); Income Tax Act s.67.1(1.1) and 67.1(5) (long-haul truck driver meals).
Business structure and registration
Most owner-operators start as sole proprietors and incorporate later. Either way you need a business number, a GST/HST account once you pass the small supplier limit and a payroll account if you hire drivers. We set it up in the right order and register you for what you actually need.
Law: Business Corporations Act (Ontario) s.4(1) and 5(1) (articles of incorporation); Excise Tax Act s.148(1) (small supplier, $30,000); Excise Tax Act s.240(1) (registration); Income Tax Act s.153(1) (source deductions).
Avoiding a big year-end tax bill
Trucking income can swing a lot. Individuals generally pay quarterly instalments once net tax owing is over the instalment threshold, and corporations pay monthly or quarterly instalments. We estimate your tax during the year so you can set money aside.
Law: Income Tax Act s.156.1(1) (instalment threshold); Income Tax Act s.157(1) (corporate instalments).
Records for a CRA review
Keep fuel receipts, settlement statements, trip logs and logbooks, maintenance records and lease agreements for six years. The CRA often asks truckers for meal-claim trip logs and fuel records first. We keep them organized for you.
Law: Income Tax Act s.230(1) and 230(4) (books and records, six years); Excise Tax Act s.286(1) and 286(3) (records, six years); Income Tax Act s.231.1(1) (CRA audits).
Behind on filings?
If you’ve missed returns or HST filings, the CRA’s Voluntary Disclosures Program may offer relief from some penalties and interest when the disclosure is voluntary and complete. We help you catch up properly.
Law: Income Tax Act s.220(3.1) (waiver of penalty or interest); Excise Tax Act s.281.1(1) (waiver of interest).
Who we work with
- Owner-operators leased onto carriers
- Small fleets with company drivers
- Dump truck, flatbed and tow operators
- Cross-border (Canada–US) long-haul carriers
- Courier, last-mile and logistics companies
- Dispatch and freight-brokerage businesses
T-Ledgers services for trucking companies and owner-operators
- Monthly bookkeeping with per-truck reporting. From $500/month (Scale), with books closed by the 10th; quarterly bookkeeping from $350/month (Growth). Your fixed fee is confirmed after a free call (see bookkeeping).
- Catch-up bookkeeping, from $1,800 per year. We rebuild years of fuel and settlement records and file what's overdue (see catch-up bookkeeping).
- Bookkeeping Review, $195/month or $295/quarter. For owner-operators who keep their own books.
- GST/HST returns, $150 per return.
- IFTA-ready records. We keep mileage-by-jurisdiction and fuel records in your books so the figures for your IFTA returns are easy to pull. We don't file IFTA returns ourselves.
- Payroll for drivers and dispatch. Quoted after a free call (see payroll services).
- Corporate (T2) and personal (T1) tax, including meal claims. Corporate returns quoted after a free call; personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Owner T1s can be prepared alongside the T2 (see corporate tax and personal tax).
- Virtual CFO, from $2,500/month. Cost-per-kilometre, lane profitability and fleet expansion decisions (see Virtual CFO).
Prices are + HST/GST. Anything without a listed price is quoted after a free call, and you get the price in writing before any work starts.
How we work with trucking businesses
- Free call. We ask about your trucks, carriers, lanes and how your records are kept.
- Written price. Scope and price in writing before any work starts.
- Setup. Per-truck classes, fuel card and settlement imports, tax codes and Dext for receipts on the road.
- Monthly rhythm. Books closed monthly, HST filed on time, mileage and fuel records ready for IFTA.
- Year-end. Meal claims, CCA, T2 and T1, all reviewed by a CPA.
Why trucking companies and owner-operators choose T-Ledgers
- We speak trucking. Settlements, deadhead miles, IFTA quarters and per diem rules are part of our normal conversation, not something we have to look up after you leave.
- CPA-led, start to finish. T-Ledgers was founded by Wajahat Ajmal, CPA, FCCA. Every return is reviewed by a CPA before it's filed.
- No surprise bills. You get the scope and the price in writing before we start. If the work changes, we agree the new price with you first.
- Price matching, agreed up front. Have a comparable written quote? Bring it to us before you sign your proposal. We can only match a price when it's agreed before the proposal is signed.
- Fast, human answers. We reply within one business day, and our 24/7 receptionist means a real person answers when you call 866-254-5368.
- In person or online. Meet us in person, by appointment only, at our Etobicoke office (102-89 Skyway Ave, Etobicoke, ON M9W 6R4) or our Mississauga office (100 Matheson Blvd E #204, Mississauga, ON L4Z 3P8), or work with us entirely online.
- Your software, set up properly. We work in QuickBooks Online and Xero, and use Dext so receipts go in with a photo.
Meet your CPA
Wajahat Ajmal, CPA, FCCA, Founder, T-Ledgers Accounting. Verify my CPA Ontario membership.
I started my career as an audit associate at KPMG. Since then I’ve worked as an independent contractor for a tax filing company, preparing returns and handling client questions. I hold a BSc in Applied Accounting from Oxford Brookes University and an MSc in Professional Accountancy from University College London. I’m a Chartered Professional Accountant in Ontario and a Fellow of the ACCA. I started taking on my own clients in 2020 and founded T-Ledgers in 2023.
Every return the firm files is reviewed by a CPA. You can read more about the firm on our About page.
What our clients say
Read more on our client reviews page.
DIY vs a generalist firm vs T-Ledgers
← Swipe to compare →
| DIY | Generalist firm | T-Ledgers BEST VALUE | |
|---|---|---|---|
| IFTA and per diem meal claims | Easy to miss the 80% rule or mismatch IFTA to the books | May not set up records with IFTA in mind | ✓Records kept IFTA-ready; meal claims documented |
| Settlement statements | Net deposit booked as revenue | Often net, deductions lost | ✓Gross revenue and each deduction recorded |
| Tractor and trailer CCA | Expensed by mistake | Year-end only | ✓Per-unit register kept current |
| Who checks the return before it's filed | You do | Depends on the firm and who's assigned | ✓Every return is reviewed by a CPA |
| How you're billed | Software fees plus your own time | Often hourly; the final bill can vary | ✓Scope and price in writing up front. No surprise bills |
| Getting an answer | Search online or wait on CRA phone lines | Varies by firm | ✓Reply within one business day; 24/7 receptionist, a real person answers |
| Software | Whatever you set up yourself | May ask you to switch to their system | ✓QuickBooks Online, Xero and Dext |
| Meeting face to face | Not applicable | Varies | ✓In person by appointment in Etobicoke or Mississauga, or fully online |
| Price matching | Not applicable | Rare | ✓Available if agreed before you sign your proposal |
Frequently asked questions: Trucking
If you’re an eligible long-haul truck driver, generally yes, instead of the usual 50%. You need to be away at least 24 continuous hours from where you’re based, driving a truck over 11,788 kg GVWR that carries goods beyond a 160 km radius, and keep records: receipts, or a trip log for the CRA simplified meal rate.
Not if you use the simplified method, but you need a trip log showing each trip’s dates, times and destinations. Otherwise keep receipts.
Through Form TL2, which the employer signs, along with a trip log.
Generally yes, if you pay for them while on the road for business and keep receipts.
Quarterly, on the last day of the month after each quarter: April 30, July 31, October 31 and January 31. You file even if you didn’t travel outside Ontario that quarter.
No. We keep your mileage-by-jurisdiction and fuel records in your books so the figures are easy to pull for your IFTA return.
Yes, if you’re registered for GST/HST and the fuel is for your business. Keep the receipts or fuel card statements.
We record the fuel as your expense and the advance as a deduction from your settlement, so your HST credits and income are both right.
Highway tractors over 11,788 kg generally go in CCA Class 16 at 40%, and trailers usually go in Class 10 at 30%. First-year claims follow special rules, so we’ll show you the figures before you buy or trade in.
It depends on cash flow, financing and how long you keep it. Lease payments are generally deductible as you pay them; purchases go through CCA. We’ll compare both.
The trade-in value reduces your CCA class. If it’s more than the class balance, the excess is recapture and is added to income.
Yes, routine repairs and maintenance are generally deductible in the year. A major rebuild that improves the truck beyond its original condition may need to be capitalized.
It depends on your income, how many carriers you work for and whether the personal services business rules could apply. We’ll run the numbers with you on a free call before you decide.
It’s the term for drivers paid as incorporated contractors when they’re really working as employees. The CRA treats misclassification seriously. We review how you’re set up.
Often not. Freight that’s part of a continuous international journey can be zero-rated, but the rules depend on the route and contract.
Generally once your taxable revenue goes over $30,000 in a single calendar quarter or over four consecutive calendar quarters. Many owner-operators register earlier to claim fuel and truck HST.
GST/HST returns are $150 per return, catch-up bookkeeping starts from $1,800 per year, the Bookkeeping Review is $195/month or $295/quarter (from $450 per review for complex books). Payroll and corporate (T2) returns are quoted after a free call. Personal tax returns from $110 + HST/GST, with your final price confirmed after a free call. Prices are + HST/GST. You get the price in writing before any work starts.
Yes. Snap receipts with Dext, share documents through our client portal and talk by phone. You can also meet us in Etobicoke or Mississauga by appointment.
Yes. We rebuild years of fuel and settlement records and file overdue returns in the right order.
Yes. Our Virtual CFO service builds cost-per-kilometre and lane profitability reports from your books.
Get your trucking paperwork off the dashboard
Book a free call to talk about fuel records, meal claims and your fleet. We reply within one business day, and a real person answers 24/7 at 866-254-5368.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 15, 2026.
Related services: Bookkeeping · Catch-up bookkeeping · Corporate taxes · Personal tax · Payroll · Virtual CFO · Contact us
Rates and thresholds change, so we link to the official sources for current figures.